Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj

Suggest a Story

Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.

Deutsche Bank Says Landlord Ruling May Flood Courts Bloomberg Deutsche Bank AG (DBK) may learn today whether it will get a chance to overturn a California court ruling that exposes it to wrongful-eviction claims the bank says will depress prices in foreclosure sales and spur lawsuits against innocent homebuyers.

by Janet Viveiros, Center for Housing Policy As the housing affordability challenges facing renters in the aftermath of the Great Recession have gained attention recently, I found myself wondering just what the differences in housing affordability for owners and renters actually looks like nationwide.&nbsp; I decided to map the data from Housing Landscape 2014 to see where low- and moderate-income owners and renters are struggling to afford their housing the most. The map below shows that large shares of low- and moderate-income working homeowners struggle to afford their homes in high-cost housing markets. New Jersey leads the way with about three in 10 households spending at least half their income on housing, making them severely housing cost-burdened. It can be easy to write off housing affordability problems as belonging solely to states with high-costs markets like California and New York , or states like Florida where many markets have not recovered from the foreclosure crisis . However, even when you look at states with the lowest shares of severely cost-burdened working homeowners, there are still significant portions of households that cannot afford their homes. In almost all states, the share of working owners who spend at least half their income on their homes is in the double digits. The numbers are even worse for low- and moderate-income working renters. The map below shows that even in states in the Midwest and South that appear relatively affordable to working homeowners, many more working renters are struggling to afford their rental homes.&nbsp; It is striking that in many of the states with the smallest shares of severely cost burdened working owners, at least one in 5 working renter households spends at least half its income on housing. At seven percent, North Dakota has the lowest share of severely cost-burdened owners. Yet, more than double that share, 16 percent, of working renter households in North Dakota are severely cost burdened. Renters...

Barbara S. Mishkin According to a Politico report, the House Financial Services Committee's Subcommittee on Oversight and Investigations voted yesterday to issue three subpoenas in connection with the Subcommittee&#8217;s investigation into alleged CFPB employee discrimination. The subpoenas were issued to Stacey Bach, Assistant Director of the CFPB's Office of Equal Employment Opportunity, Liza Strong, the CFPB&#8217;s Director of... More &#62;

The US economy has been the world largest since 1872 when it overtook the UK&#8217;s. A heckuva run, no doubt. But that may end this year, according to the Financial Times: The US is on the brink of losing its &#8230; read more &#62;

WASHINGTON--The Federal Reserve Board of Governors held an uncommon closed-door meeting Tuesday to discuss monetary policy. The four board members met to discuss "medium-term monetary policy issues," according to a notice posted on the Fed's website. No further details were provided. Government sunshine laws allow the Fed to keep meetings on monetary policy matters private.

The U.S. economy nearly stalled in the first three months of 2014. Gross domestic product grew at a seasonally adjusted annual rate of 0.1% in the first quarter, a big drop from its 2.6% pace in the fourth quarter of 2013.

WASHINGTON (Reuters) - Mortgage finance companies Fannie Mae and Freddie Mac could need to draw as much as $190 billion in additional taxpayer aid if the economy suffered a severe downturn, their regulator said on Wednesday.

Fannie Mae Would Need New Bailout in Downturn, FHFA Says Bloomberg Fannie Mae and Freddie Mac (FMCC) could require an additional bailout of as much as $190 billion in a severe economic downturn, according to the results of stress tests released by the regulator for the U.S.-owned companies. The two mortgage-finance&nbsp;... and more&nbsp;&raquo;

Washington, D.C. -U.S. Senators Barbara Boxer (D-CA) and Charles Schumer (D-NY) today sent a letter to Secretary Shaun Donovan of the U.S. Department of Housing and Urban Development (HUD) asking him to enforce the rules for reverse mortgages to help prevent families from being forced into foreclosure after inheriting a home following the death of a loved one.

Roughly half of Illinois and Connecticut residents say that if given the chance, they would like to move to another state. This contrasts with 23% in Montana, Hawaii, and Maine -- states where residents are the most content to stay.

U.S. economic output grew at a puny, seasonally adjusted annual rate of 0.1% in the first quarter. Here are some highlights from the Commerce Department initial estimate of gross domestic product for the first three months of 2014:

NEW YORK (Reuters) - Bill Gross, manager of the world's largest bond fund at Pimco, said Wednesday that the future "neutral" policy rate would be critical for finding value in all assets, and that his firm believed it was about 2 percent.

http://on.wsj.com/grandcentralsignup One year ago, Federal Reserve officials snuck an obscure line into the policy statement that followed their two-day policy meeting on Apr. 30 and May 1. "The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes," the Fed said. On the surface it was a neutral statement which seemed to indicate nothing new about the Fed's thinking. Officials had always said they might vary the pace of their $85 billion monthly bond purchases, depending on how the economy performed. Yet there it was, brand new, in the statement. ? ?

WASHINGTON (MarketWatch) -- The Treasury Department announced Wednesday that it plans to slowly decrease the sizes of the auctions of its shorter-dated coupon securities over the next quarter. Treasury said it will trim the size of the 2-and 3-year note auctions by $1 billion each month of the quarter. The department also announced that it will sell $69 billion in notes and bonds next week in its quarterly refunding auction, down from $70 billion last quarter. The department will auction $29 billion in 3-year notes on May 6 and $24 billion in 10-year notes on May 7. The government will also sell $16 billion in 30-year bonds [UST30y] on May 8. The offerings will refund $59.3 billion in maturing securities and raise approximately $9.7 billion.

NEW YORK (Reuters) - Applications for U.S. home mortgages fell last week to their lowest level since December 2000 as both refinancing and purchase applications declined, an industry group said on Wednesday.

Founded in 2004, Mortgage News Daily has established itself as a leader in housing news, analysis and data. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal - keeping our readers informed.